06/10/2025
Optimus Properties Sells 49,905-Square-Foot Retail Center in Pomona, CA for Redevelopment
Los Angeles, CA — Optimus Properties, LLC, a Los Angeles-based real estate investment and development firm, has announced the sale of 3101 N Garey Avenue in Pomona, California. The property, a 49,905-square-foot retail strip center situated on a prominent corner of the city, was successfully entitled for multifamily podium development by Optimus. However, the buyer has indicated initial plans to reposition the property into a modern town home development that serves the evolving needs of the surrounding community.
Located at the intersection of North Garey Avenue and East La Verne Avenue, the center has long served the Pomona community with a mix of local retail tenants. Optimus Properties owned and managed the center, investing in value-add strategies to improve operations during its hold period.
“We recognized the long-term redevelopment potential of this property when we acquired it,” said K. Joseph Shabani, Principal at Optimus Properties. “With changing retail trends and the property’s exceptional frontage and location, this site presents a significant opportunity for the next phase of growth in Pomona. It was a pleasure working with Cape Point, the Buyer, and we wish them much success in the future. And as usual, Janet Neman of Kidder Mathews led a professional team that brokered the sale.”
Kamyar Shabani, co-founder of Optimus stated that “we knew we had multiple exit strategies due to the large 5.5 acres of land for this Property. We look forward to seeing how this development will improve the area.”
Optimus Properties continues to focus on strategic acquisitions throughout Southern California, targeting value-add and opportunistic assets across retail, multifamily, and mixed-use product types.
Optimus recently expanded its portfolio with the purchase of a retail property at 18601-18653 Yorba Linda Blvd. In September of last year, Optimus acquired a Hollywood retail property at 5214-5232 W. Sunset Blvd., located next to their existing mixed-use building at 1501 W. Sunset Blvd. Additionally, Optimus recently purchased a 70-unit apartment community in Beaverton, OR. Recent sales include a 61,000 square foot single-tenant office building at 2325 Crenshaw Blvd. Torrance. Last year, Optimus completed four acquisitions totaling over $70 million, led by K. Joseph Shabani, Kamyar Shabani and Jesse Liu, Partner & Director of Acquisitions. These additions bring their total assets under management close to $1B. In 2025, Optimus aims to continue expanding its portfolio along the West Coast, with a particular focus on growing their retail portfolio.
About Optimus Properties, LLC
Optimus Properties, LLC is headquartered in Los Angeles, California, and is engaged in the acquisition, development, leasing, and management of multi-family, retail, and commercial real estate. The Company employs a disciplined investment approach focused on value creation and capital preservation. The Company’s investments are characterized by direct principal involvement and a meaningful contribution of its principals’ capital. The Company’s current portfolio consists of retail, office, medical office, and multi-family properties in California, Washington, Oregon and New Mexico.